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December 21, 2015

The SEC charged Donald Toomer, a Las Vegas-based financial advisor, in connection with previously filed fraud charges against Samuel DelPresto. The SEC alleges that Toomer, to assist DelPresto in demonstrating liquidity and market demand for his microcap stocks, agreed to buy shares of three microcap stocks in client accounts in exchange for hundreds of thousands of dollars in kickbacks. In a parallel action, the U.S. Attorney’s Office for the District of New Jersey announced criminal charges against Toomer. SEC

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